Tweedy Browne

Tweedy Browne

Last Update: 01-06-2017
Related: Tweedy Browne Global Value

Number of Stocks: 50
Number of New Stocks: 1

Total Value: $3,322 Mil
Q/Q Turnover: 0%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Tweedy Browne Watch

  • Tweedy Browne Global Value Buys and Adds to 5 Stocks

    Tweedy Browne (Trades, Portfolio) Global Value Fund follows Ben Graham-style investment principles and had low portfolio turnover of 1% in the fourth quarter, it reported Friday.

    The fund invests primarily in developed non-U.S. stocks from diverse sectors. Stocks are selected based on their discounts from managers’ assessments of their intrinsic worth. The $9 billion fund ended the quarter with its largest portfolio allocations as 25% in financial services, 17.9% in consumer defensive and 13.5% in consumer cyclical stocks.  


  • Tweedy Browne Adds to MRC Global

    Investment firm Tweedy Browne (Trades, Portfolio) Co. increased its position in MRC Global Inc. (NYSE:MRC) by 7.6% on Dec. 31.


    Tweedy Browne was established in 1920 by Forrest Birchard Tweedy. Its current managing directors are William H. Browne, John D. Spears, Thomas H. Shrager and Robert Q. Wyckoff Jr. The firm’s investment approach is derived from the work of Benjamin Graham. It seeks to uncover a company’s intrinsic value by determining its acquisition value or by estimating the value of its assets and cash flow.

      


  • Chasing Yield at Any Cost Is a Huge Mistake

    Over the past few years an increasing number of investors have been chasing a trade that at first glance seems perfectly harmless but over the long term will likely work out to be hugely damaging to portfolio performance.


    I’m calling this trend income chasing as it involves investors quite literally chasing income at any cost. I’m not talking about buying bonds with artificially low yields, real estate or investing in alternative assets; I’m talking about equities.

      


  • 2 Gurus Exit ExxonMobil

    Louis Moore Bacon (Trades, Portfolio) and the Tweedy Browne (Trades, Portfolio) Co. exited their positions in ExxonMobil (NYSE:XOM) during the third quarter.


    ExxonMobil was incorporated in New Jersey in 1882. The company’s principal business is in the exploration and production of crude oil and natural gas. It also manufactures petroleum products, and transports and sells crude oil, natural gas and petroleum products.

      


  • Tweedy Browne Comments on Avnet

    Avnet (NYSE:AVT), on the other hand, is a global distributor of computer products and semiconductors which, at purchase, was trading at approximately 10X earnings and 7X enterprise value to earnings before interest, taxes and amortization (EBITA). Businesses such as Avnet have been routinely valued in corporate acquisitions at approximately 10X enterprise value to EBITA.

      


  • Tweedy Browne Comments on Hang Lung Group

    Hang Lung Group (HKSE:00010) is a successful operator of shopping malls in mainland China and Hong Kong, and at purchase was trading at a historically low ratio of price to book value (<40%).

      


  • Tweedy Browne Comments on Linde

    Linde (XTER:LINDE), the German industrial gas company, we have owned in the past, and we felt we were once again getting a pricing opportunity in its shares. In the 3rd quarter, the company confirmed that it was in discussions to combine with Praxair, a merger that would create the world’s largest supplier of industrial gas. As we write, the prospective merger appears to be off, and it remains to be seen if the two companies will re-engage.

      


  • Tweedy Browne Fund Investment Adviser's Semi-Annual Letter to Shareholders

    Back in our March 2015 letter we said “we live in hard-to-figure-out times.” In many respects, not a lot has changed. The efforts of central banks to kick start economies via quantitative easing (flooding the markets with cheap money) had resulted in negative yields on some government bonds and unsatisfactory rates of economic growth. In our annual report back in March, we mentioned a Bloomberg article pointing out that $7.8 trillion of government debt around the world had negative yields widely attributed to more of the same government/central bank policies. Economic growth in most developed economies remained disappointing, raising doubts about the wisdom or efficacy of this strategy. Recently, the Financial Times reported that the value of negative yielding debt had risen to $13.4 trillion, which included some shorter term corporate debt for the first time. While bond managers enjoyed a bonanza, since falling yields mean rising prices (and rising yields mean falling prices), the idea of paying someone to hold your money feels peculiar to many of us since the benefits are hard to discern and the ultimate consequence or reward is not obvious, except to the few who regularly appear on the financial news networks.

      


  • Tweedy Browne Sells Halliburton, Johnson & Johnson

    Tweedy Browne is an investment partnership owned by its four managing directors, William H. Browne, John D. Spears, Thomas H. Shrager and Robert Q. Wyckoff Jr. During the third quarter the guru firm's largest sales were:


    Halliburton Co. (HAL) was reduced by 19.56% with an impact of -1.28% on the portfolio.

      


  • Tweedy, Browne Fund 3rd Quarter Commentary

    Global equity markets continued to gain strength in the third quarter off their Brexit lows back in late June, shrugging off worries about the impact of negative interest rates, anemic global growth, currency volatility, and pre-election jitters. Despite continuing to carry above-average cash reserves, the Tweedy, Browne Funds also produced solid absolute returns in this buoyant environment, and three out of our four Funds are besting their benchmark indices year-to-date.


    Leading the advance during the quarter were the Funds’ financial, technology and industrial holdings, including strong returns from companies such as HSBC (NYSE:HSBC), Standard Chartered (SCB), National Bank of Canada (TSX:NA), CNP Assurances, Munich Re, Zurich Insurance, Cisco, Alphabet (Google), IBM, Siemens, Safran, and Linde, which announced that it was in discussions to combine with Praxair, a merger that would create the world’s largest supplier of industrial gas. As we write, the prospective merger appears to be off, and it remains to be seen if the two companies will re-engage. The Funds’ portfolios also benefitted from their overweighting in UK-based companies, which rallied aggressively off their Brexit lows, catalyzed in part by the collapse of the British Pound. We also had a nice bounce in G4S, and continued strong results in ABB, Teleperformance, and the Daily Mail.

      


  • Swedish Confectioner Cloetta Trades at a Resonable Valuation

    Cloetta (OSTO:CLA.B) is a Swedish confectionary company whose stock is trading at very reasonable valuations. The company has grown through M&A and is a holding of Tweedy Browne (Trades, Portfolio).


    The company has 287 million shares, trades at 31 krona ($3.53), and has a market cap of 8.9 billion krona ($1 billion). It takes 8.8 krona to buy one dollar. Trailing earnings per share are 1.42 krona and the stock trades at a price to earnings (PE) ratio of 21.8. The stock does not pay a dividend.

      


  • All Investors Should Own Some Deep Value Stocks

    There are many different ways of building an investment portfolio; ultimately how you build your portfolio will depend on your investment objectives as well as appetite for risk.


    Dividends or dividend stocks are usually the foundations of any portfolio no matter what your attitude on risk or investment objectives. Indeed, you can’t go wrong with a steady stream of dividends to improve your portfolio’s returns when times are good and generate a steady income when times are bad. Alongside dividend stocks, there’s one other class of equities that should have a place in every portfolio – deep value stocks.

      


  • Tweedy Browne Global Value Fund Quadruples Stake in Hongkong and Shanghai Hotels

    During the second quarter, the Tweedy Browne (Trades, Portfolio) Global Value Fund quadrupled its stake in The Hongkong and Shanghai Hotels Ltd. (HKSE:00045). The fund added an additional 12,475,711 shares in the second quarter for an average price of 8.3 Hong Kong dollars ($1.07). The trade had a 0.18% impact on the Tweedy Browne (Trades, Portfolio) Global Value Fund’s portfolio. It now owns 15,525,711 shares of the company.


    The Hongkong and Shanghai Hotels has a market cap of HK$12.81 billion, a P/E ratio of 12.31, an enterprise value of HK$16.31 billion and a P/B ratio of 0.34.

      


  • Warren Buffett Adds to Phillips 66

    Warren Buffett (Trades, Portfolio) of Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) added to his holdings in Phillips 66 (NYSE:PSX) on Aug. 24.


    Buffett purchased 704,181 shares for an average price of $77.45 per share. The guru now owns 79,486,181 shares in Phillips, and the purchase had an impact of 0.04% on the portfolio.

      


  • What Has Worked in Investing: Charts

    The world of investing can be a daunting place for beginners and even the more experienced investor. It can take decades to find your investment feet, test different strategies and to develop a money management style that suits both you and your lifestyle.


    It is important that while you are developing your own strategy to avoid being drawn into other strategies, which claim to have better and more sustainable returns. But how do you know which ones to avoid and which ones to take a second look at?

      


  • Global Value Fund Invests in Emperor Entertainment Hotel

    Tweedy Browne (Trades, Portfolio) Global Value Fund purchased 26,265,000 shares in Emperor Entertainment Hotel (HKSE:00296) at an average price of 1.77 Hong Kong dollars (23 cents in U.S. currency) in the second quarter.


    The trade had a 0.09% impact of the Tweedy Browne (Trades, Portfolio) Global Value Fund’s portfolio.

      


  • Tweedy Browne Global Value Fund Trims T Hasegawa

    During the second quarter, the Tweedy Browne (Trades, Portfolio) Global Value Fund trimmed its stake in T Hasegawa (TSE:4958) at an average price of 1812.5 yen ($18.08).The trade had a -0.02% impact on the fund’s portfolio. It now owns 188,400 shares of the company.


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  • Global Value Fund Buys Stake in Thinking Electronic

    The Tweedy Browne (Trades, Portfolio) Global Value Fund purchased a 365,000-share stake in Thinking Electronic Industrial (TPE:2428) at an average price of 49.8 new Taiwan dollars ($1.59 in U.S. currency) in the second quarter.


    Thinking Electronic Industrial was originally founded in 1979 and is currently headquartered in Kaohsiung, Taiwan. The company creates and distributes circuit components that provide protection against using too much voltage, over temperature and overcurrent protection. The company’s products include NTC and PTC thermistor, zinc oxide varistors and gas discharge tubes among others.

      


  • Tweedy Browne Global Value Fund Adds to Hang Lung Group

    During the second quarter, the Tweedy Browne (Trades, Portfolio) Global Value Fund added to its stake in the Hang Lung Group (HKSE:00010) at an average price of 22.08 Hong Kong dollars ($2.85). The trade had a 0.11% impact on the Tweedy Browne (Trades, Portfolio) Global Value Fund's portfolio. It now owns 6,111,500 shares of the company.


    The Hang Lung Group was founded on September 13, 1960. Since then, the company has established itself to becoming one of the largest real estate developers in Hong Kong. The Hang Lung Group is also engaged in investment holding and through its subsidiaries, property development for sales and leasing, property investment for rental income and other investments.

      


  • Tweedy Browne Global Value Fund Adds to SCOR Stake

    During the second quarter the Tweedy Browne (Trades, Portfolio) Global Value Fund added 436,730 shares to its stake in SCOR (XPAR:SCR) at an average price of 29.57 euros ($32.75) per share.


    The trade had a 0.18% impact on the Tweedy Browne (Trades, Portfolio) Global Value Fund’s portfolio. It now owns 5,998,250 shares in the company.

      


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